Question: 1-To classify a receivable as a current asset it must be collected within one year or the normal operating cycle of the business, whichever is

1-To classify a receivable as a current asset it must be collected within one year or the normal operating cycle of the business, whichever is shorter.

Select one:

True

False

2-Pledging of accounts receivable transfers the risk of customer default to the financial institution.

Select one:

a.False

b.True

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